The National Bank of Georgia Partners with Ripple for Digital Lari Project
The National Bank of Georgia (NBG) has chosen Ripple Labs as its official technology partner for the development of its central bank digital currency (CBDC) project, known as the digital lari. The partnership will involve implementing and deploying the digital lari pilot initiative through the Ripple CBDC Platform.
Ripple will work with the NBG to evaluate potential applications of the digital lari for the government sector, enterprises, and individual retail users. Prior to being selected as the technology partner, Ripple underwent a rigorous selection process alongside other firms based on their technological expertise, maturity, capability, relevant background, and commitment to the project’s success.
Ripple’s Commitment to CBDC Implementations
This collaboration with the NBG follows Ripple’s previous partnership with Banco de la República, Colombia’s central bank, for its digital peso pilot. Ripple has been actively aligning itself with organizations exploring CBDC implementations.
Ripple’s Recognition in Digital Currency Advancement
In recognition of its contributions to digital currency advancement and sustainability initiatives, Ripple received recognition from Currency Research. The company has been commended for fostering innovation in the field of CBDCs.
Hot Take: National Bank of Georgia Selects Ripple as Technology Partner for Digital Lari Project
The National Bank of Georgia has chosen Ripple Labs as its official technology partner for developing its central bank digital currency project. This collaboration will involve implementing and deploying the digital lari pilot initiative through the Ripple CBDC Platform. By partnering with Ripple, the NBG aims to evaluate potential applications of the digital lari across various sectors. This selection follows a thorough assessment process that considered factors such as technological expertise and commitment to project success. Ripple’s previous partnerships with central banks, including Banco de la República, highlight its dedication to CBDC implementations. Ripple’s contributions to digital currency advancement have also been recognized by Currency Research. This partnership signifies an important step in the development of Georgia’s digital lari project.
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